Daiwa Securities Group Inc. Has $6.58 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Daiwa Securities Group Inc. increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,657 shares of the company’s stock after purchasing an additional 2,990 shares during the quarter. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $6,579,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. EntryPoint Capital LLC lifted its stake in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the third quarter valued at $36,000. Finally, Versant Capital Management Inc lifted its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on LHX shares. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Citigroup raised their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

NYSE:LHX opened at $240.64 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 52 week low of $187.37 and a 52 week high of $265.74. The firm has a market cap of $45.64 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 2.07 and a beta of 0.72. The firm’s 50-day simple moving average is $245.04 and its 200 day simple moving average is $233.54.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 in the last ninety days. 0.87% of the stock is currently owned by company insiders.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.